Thank you, Madam Chair.
Mr. Lee, I am particularly interested in your background. Of course, as a former lender myself, we share that experience, but also, just in reviewing your biography, I see that you were the first western professor to teach in a post-communist country. What an experience of a lifetime. I'm very interested to hear your experience, and I have some questions on that, if I may.
Would you agree that when governments centralize housing decisions, the results are slower builds, structural inefficiencies and less fiscal transparency?